Tuesday, February 28, 2023

Masters of the universe playing in the hospice sandbox

 



screenshot headline from Home Healthcare News: [Updated] CD&R-Backed Gentiva Agrees To Acquire ProMedica’s Home Care, Hospice Assets For $710M By Andrew Donlan | February 27, 2023

white text on black background reads: “Gentiva – the company comprised of the hospice and personal home care assets of what was formerly Kindred at Home* – has agreed to acquire ProMedica’s Heartland home health and hospice assets for $710 million.** Led by the former CEO of Kindred, David Causby, Gentiva is backed by both Humana Inc. (NYSE: HUM) and the private equity firm Clayton, Dubilier & Rice (CD&R). Specifically, CD&R owns 60% of the business, with Humana holding onto a 40% stake post-divestiture. CD&R paid $2.8 billion*** for the ownership stake last year.” * don’t forget Curo is also in that stew ** seems cheap, place must have been in shambles *** for those keeping track at home

screenshot of lexisnexis table - top ten hospices by market share, it's annotated and a real mess from all the M&A activity, shows Gentiva leaps ahead of Vitas to grab #1 spot now with 6.4% share while Vitas has 4%+

Press release and stenography here

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